Apple is reportedly losing more than $1 billion annually on its streaming service, Apple TV+, according to The Information on Thursday — providing a rare glimpse into the tech giant’s content operation.
The company, led by CEO Tim Cook, is typically reticent about sharing details on how Apple TV+ is performing on its quarterly earnings calls.
Apple TV+ is lumped together with other parts of its business, like Apple Music and iCloud storage, under the “Services” umbrella on its earnings reports — and that sector has performed well as of late, bringing in $26.1 billion during the holiday quarter, up 14% year-over-year.